Press Release

BOCA RATON, Fla.--(BUSINESS WIRE)--
Cross Country Healthcare, Inc. (NASDAQ: CCRN) ("Company" or "Cross
Country") today announced the completion of its acquisition of
substantially all of the assets and certain liabilities of Medical
Staffing Network ("MSN"), a comprehensive healthcare staffing company
with 55 locations throughout the U.S. that provides per diem, local,
contract, travel, and permanent hire staffing services. This closing
follows the execution of the Asset Purchase Agreement between Cross
Country and MSN on June 2, 2014 which was previously announced.

"This acquisition increases Cross Country's branch network and market
share, diversifies our customer base and brings us new service lines. I
believe it positions us to serve our customers better and to increase
earnings growth through improved fill rates, expansion of our MSP and
per diem activities, and cost synergies," said William J. Grubbs,
President and Chief Executive Officer of Cross Country.

The total purchase price will be up to $48.1 million, subject to a final
net working capital adjustment. Cross Country funded $45.6 million at
closing, net of cash acquired. An additional $2.5 million was deferred
and is due to the seller in 21 months, less any COBRA expenses incurred
by Cross Country on behalf of former MSN employees over that period.

Cross Country financed the purchase price using $55 million in new
subordinated debt consisting of a $30 million, 5-year term loan and
$25 million of convertible notes having a 6-year maturity and a
conversion price of $7.10. The combined effective cash interest rate for
the subordinated indebtedness is expected to be 7.72% for 2014. Cross
Country also amended its loan agreement with Bank of America. N.A. to
increase its borrowing capacity under its senior secured asset-based
revolving credit facility from $65 million to $85 million.

For the year ended December 29, 2013 and the five-month period ended May
25, 2014, MSN had audited revenues of $229 million and unaudited
revenues of $98 million, respectively. The acquisition is expected to be
accretive to EPS in 2015.

ABOUT CROSS COUNTRY HEALTHCARE

Cross Country Healthcare, Inc., headquartered in Boca Raton, Florida, is
a national leader in providing healthcare staffing and workforce
management solutions. Our traditional staffing includes temporary and
permanent placement of travel nurses and allied professionals,
branch-based local nurses and allied staffing, and locum tenens
physicians. We provide flexible workforce management solutions to the
healthcare market through diversified offerings, meeting the special
needs of each client. In addition to traditional staffing, we offer
managed service programs (MSP), workforce assessments, internal resource
pool consulting and development, electronic medical record (EMR)
transition staffing, and recruitment process outsourcing services. We
have approximately 3,000 active contracts with government and commercial
hospitals and healthcare facilities, and other healthcare organizations
throughout the U.S. to provide our staffing services and workforce
solutions. We also provide physician and executive search services as
well as education and training programs for healthcare professionals.
Cross Country Healthcare employs approximately 1,100 corporate employees
and utilizes on average 2,420 field employees and 1,640 independent
contractors.

ABOUT MEDICAL STAFFING NETWORK

Medical Staffing Network is one of the largest and most recognized national
providers of healthcare staffing and workforce
solutions that balance quality patient care with cost-savings. With
more than 30 years of experience, MSN's offerings streamline and
optimize the patient care continuum from recruitment and onboarding to
intake and case management. As a comprehensive healthcare staffing
company, MSN provides nursing, allied healthcare, pharmacy, clinical
research, anesthesia, advanced practice and case management
professionals through a network of 60+ locations and traveler solutions.

Copies of this and other news releases as well as additional information
about Cross Country Healthcare can be obtained online at www.crosscountryhealthcare.com.
Shareholders and prospective investors can also register to
automatically receive the Company's press releases, SEC filings and
other notices by e-mail.

In addition to historical information, this press release contains
statements relating to our future results (including certain projections
and business trends) that are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and are subject to the "safe harbor" created by those
sections. Forward-looking statements consist of statements that are
predictive in nature, depend upon or refer to future events. Words such
as "expects", "anticipates", "intends", "plans", "believes",
"estimates", "suggests", "appears", "seeks", "will" and variations of
such words and similar expressions intended to identify forward-looking
statements. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results and
performance to be materially different from any future results or
performance expressed or implied by these forward-looking statements.
These factors include, without limitation, the following: our ability to
attract and retain qualified nurses, physicians and other healthcare
personnel, costs and availability of short-term housing for our travel
nurses and physicians, demand for the healthcare services we provide,
both nationally and in the regions in which we operate, the functioning
of our information systems, the effect of existing or future government
regulation and federal and state legislative and enforcement initiatives
on our business, our clients' ability to pay us for our services, our
ability to successfully implement our acquisition and development
strategies, the effect of liabilities and other claims asserted against
us, the effect of competition in the markets we serve, our ability to
successfully defend the Company, its subsidiaries, and its officers and
directors on the merits of any lawsuit or determine its potential
liability, if any, and other factors set forth in Item 1A. "Risk
Factors" in the Company's Annual Report on Form 10-K for the year ended
December 31, 2013, and our other Securities and Exchange Commission
filings made prior to the date hereof.

Although we believe that these statements are based upon reasonable
assumptions, we cannot guarantee future results and readers are
cautioned not to place undue reliance on these forward-looking
statements, which reflect management's opinions only as of the date of
this press release. There can be no assurance that (i) we have correctly
measured or identified all of the factors affecting our business or the
extent of these factors' likely impact, (ii) the available information
with respect to these factors on which such analysis is based is
complete or accurate, (iii) such analysis is correct or (iv) our
strategy, which is based in part on this analysis, will be successful.
The Company undertakes no obligation to update or revise forward-looking
statements. All references to "we," "us," "our," or "Cross Country" in
this press release mean Cross Country Healthcare, Inc., its subsidiaries
and affiliates.